Pain Management Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Pain Management Market Analysis:

The Pain Management Market is projected to experience substantial growth, with an estimated increase from USD 75.41 billion in 2023 to USD 89.96 billion by 2028. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 3.59% during the forecast period of 2023–2028. The COVID-19 pandemic has had a profound impact on healthcare systems worldwide. Health agencies have implemented measures to contain the transmission of the coronavirus, resulting in the postponement of elective and non-urgent surgeries on a global scale. Pain clinics, including interventional pain management procedures, have been negatively affected by the pandemic, as highlighted by the Indian Journal of Anaesthesia in 2020. The Indian Society of Anaesthesiologists has also published guidelines on anesthesia and intensive care practices in response to the pandemic. Additionally, the Journal of Pain Medicine has suggested that epidural nonsteroid injections may be considered for patients who are already immunosuppressed and at high risk of SARS-CoV-2 infection and complications. Recent data published by PubMed in April 2022 has shown a significant increase in pain among individuals suffering from chronic pain in the United States and Canada during the pandemic. However, as restrictions on non-essential hospital visits are lifted, effective pain management practices have been implemented among those with chronic pain, indicating a return to a pre-pandemic market state.

The pain management market has traditionally relied on the use of painkiller medications as the primary treatment option, which has contributed significantly to its growth. However, in recent years, there has been a shift towards device-based pain management therapies due to a better understanding of the long-term side effects associated with painkillers and their increased reliance. Post-operative pain is one of the most prevalent types of pain that necessitates management. The cost associated with monitoring and treating adverse effects has created a substantial demand for both pain management drugs and devices. As a result, the market has witnessed a rise in the adoption of device-based therapies alongside traditional medication-based approaches. This diversification in treatment options has contributed to the overall growth of the pain management market.

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